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Chinese exports rise as fresh US tariffs loom

China's exports soared in July, showing little impact from US tariffs, as Washington finalises more duties on Chinese imports. 
Sales to the US rose by 13.3%, while China's surplus with the States shrank marginally to $28.1bn (€21.7bn) last month from a record $29bn (€22.4bn) in June.
"[The] trade data don't show any significant impact from the first round of US tariffs," Julian Evans-Pritchard, senior China economist at Capital Economics, said in a note to investors."We expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than US tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation."On Tuesday, the Trump administration said it would begin collecting previously announced 25% tariffs on an additional $16bn of Chinese goods from 23 August.
USTR Finalizes Second Tranche of Tariffs on Chinese Products in Response to China’s Unfair Trade Practices https://t.co/0ZigS2Ojez pic.twitter.com/1VPWWMYd4P— USTR (@USTradeRep) August 7, 2018
Announcing the new duties, the US Trade Representatives Office: "China directs and unfairly facilitates the systematic investment in, and acquisition of, US companies and assets to generate large-scale technology transfer.""China conducts and supports cyber intrusions into US commercial computer networks to gain unauthorised access to commercially valuable business information."
Washington imposed 25% duties on $34bn (€26.3bn) of Chinese goods on 6 July in response to those complaints.Beijing has retaliated with its own duties on $34bn of US goods.US president Donald Trump has threatened to target all $500bn of Chinese imports.

Chinese exports rise as fresh US tariffs loom

Donald Trump 'ready' to impose tariffs on all Chinese goods
Donald Trump said he is "ready to go" with tariffs on an additional $500bn of imports from China.

Chinese state media has said Beijing will not be cowed by Washington's threats.
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Front page commentary published across all state newspapers by the official Xinhua news agency said: "Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around."Although this may for a moment bring preening with delight, it will make it hard to resolve economic imbalances or out of kilter politics and other deep-rooted problems."
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